PNB MetLife Insurance Company IPO: Reviews, Recommendations, Dates, News, GMP, Allotment Status - IPO Reviews

Sunday, April 22, 2018

PNB MetLife Insurance Company IPO: Reviews, Recommendations, Dates, News, GMP, Allotment Status

PNB MetLife Insurance company is planning to go for an IPO by not late than the first quarter of this financial year. PNB MetLife Insurance company's shareholders include MetLife International Holdings LLC (MIHL), Punjab National Bank Limited (PNB), Jammu & Kashmir Bank Limited (JKB), M. Pallonji and Company Private Limited and other private investors. Of the above, MIHL and PNB are the majority stakeholders.

PNB MetLife Insurance Company IPO: Reviews, Recommendations, Dates, News, GMP, Allotment StatusPNB MetLife insurance company will be valued at Rs 8,000 crores and the promoters will be seeking around Rs 2,000 crores through the sale of their shares in the company. The company by August 2018, will be submitting the draft papers with SEBI and kickstart further processes. 

PNG MetLife is the fourth insurance company after ICICIC Pru, HDFC Life and SBI Life to go for public listing. HDFC Life enjoys Rs 1 lakh crore valuations and is the leading insurance company in terms of market share. Next to it, SBI has 18.5% of the market share among private insurers in new business premium last year. PNB MetLife insurance company may not figure in the list of Top 10 in terms of market share. PNB MetLife has 2.4% market share among the private insurers and 0.7% share in the new business premium data last year.

Owing to the discrepancy in the financial banking business, many banks are relooking at their insurance business. To cite,  IDBI Bank is looking to divest its stake in its IDBI Federal Life Insurance. 

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